good morning (not) (Cape Coral, Sarasota, Sanibel: real estate, foreclosures, rent)

[twobums]

This is front page news, not a surprise to anyone living here & looking for a job:

Lee County worst job market in the U.S. | news-press.com | The News-Press.

[hiknapster]

That is really, really scary stuff. Like I said, I think the area turned a corner a couple of weeks ago, but it is going to be a long road to stumble down. It makes me very worried about the area. As much as we would like to move back, this makes me afraid. And season wraps up in a month. That may set everything back until next January.

[twobums]

hik ~ the retail stores on Sanibel & FMB did not have much of a seaon, I have spoken with maybe a dozen store owners, restaurants, gift shops etc. Worse than mediocre.

[hiknapster]

As you probably know, I was on Cape Coral for about five days, a couple of weeks ago. I could see that season had happened, but barely. A quarter of the homes in SEFlorida were closed. Traffic was NOT horrendous. It made for a very pleasant vacation, but it was very slow.

I have the Brookings report, btw. I'm reading it right now.

Here's what I just came across. If you think your morning was bad, I just screwed up your lunch.

Detroit and Cape Coral continue to experience the greatest output declines,
reflecting the more severe toll that the recession has taken on both Sun Belt housing-bubble metropolitan
areas and auto manufacturing centers.

http://www.brookings.edu/~/media/Fil...ro_monitor.pdf

I'm starting to think that all of those obnoxious folks that are no longer in Cape Coral may be in Charlotte, NC. There are an awful lot of reports of rude jerks up there. No kidding!

[twobums]

hik ~ I did not know you were here. I did not live here during those hazy crazy days of the building boom, got here in time for the bust. Friends & neighbors do tell me the same thing that you have reported ~ the busy season is not so busy anymore.

Here on Sanibel, the traffic is not always heavy on Periwinkle, the parking lots of restaurants are only filled on Fri & Sat evenings. There are many specials and BOGO deals available. Family rented a beach front condo here, in March with only a weeks notice and special pricing. Good for them but not for the owners of that condo.

The article you mentioned from the Brookings institute has a lot of thoughtful information. TY for sharing.

[hiknapster]

It was last minute. We had to attend a funeral of a very sick uncle. We were extremely saddened but knew it was coming. However, it was still last minute.

I was immediately charmed by the area. It looks so much better than it used to. I'm not kidding! The traffic is not horrendous. The people are smiling.

The customer service that we received from Knoxville to Cape Coral was fabulous. We took our time and stayed in Sarasota the first night and on the way back we stayed in Valdosta, Georgia.

At every restaurant, the manager came over and checked on us.

In JCPenney's in Cape Coral I actually took a step back by the greeting of the first woman we encountered. Wow. People are really friendly.

Next time I'm in town I would love to have a meetup. It was too difficult this time. Far too many relatives to see and hug. But we could have a really good time!

We are weighing our options and trying to decide on moving back or not. It's giving me an enormous headache.

I'm about to pitch the Blackberry and all the technology, find a nice piece of paper and a pen and write at the top of the paper "Pros" and "Cons."

[Compression]

Originally Posted by hiknapster

Detroit and Cape Coral continue to experience the greatest output declines,
reflecting the more severe toll that the recession has taken on both Sun Belt housing-bubble metropolitan
areas and auto manufacturing centers.

And to think, when little 'ol me equated Cape Coral to Detroit six or more months back, I was admonished, and scoffed at.........

Yep, it's time to declare the Yachtcare Institute open for business.......

Yachtcare has spoken.......

[121804]

H- interesting #'s also coming out on SWFL & SFL foreclosures that are stuck in the courts and are about to hit the market. Not pretty.

You will know when the time is right. I've always believed that if you get to a point where you just cannot figure it out, probably best to take a few steps back for a moment and stop trying to MAKE it work

[ChrisA70]

As much as the snowbirds annoy some of us(driving), it will be a real negative on this area that is barley afloat now... This won't be good.

[Compression]

Originally Posted by hiknapster

Like I said, I think the area turned a corner a couple of weeks ago, but it is going to be a long road to stumble down. It makes me very worried about the area. As much as we would like to move back, this makes me afraid. And season wraps up in a month. That may set everything back until next January.

Your fear is well founded......

I've been sitting back for a while, and watching while this so called "recovery" unfolds, locally and across the nation.

All I hear is things are getting better, with nothing of substance to back it up, and the following day after the "good news" the other shoe drops, with "revised numbers" that erase the previous months "good news". It's all smoke, mirrors, and blatant lies.

As 2bums noted, most businessess have experienced a bust this season. I must admit that some of it is certainly due to the horrid weather we have experienced this year. Looks like we may be finally close to catching a break at last. But the season is pretty much all but over at this point.

Look for more business closings, higher unemployment, and more dark doors in SW Florida coming up over the next couple of months. Many that were hanging on by sheer force of willpower will buckle under. I can see it happening around me, and I can even see it from where I am sitting at this point. And the shiet will continue to roll downhill. The cascading failure that IS SW Florida, is NOT done falling yet.

Of course I have nothing but the utmost respect for Hik, but I have to ask....what does one base a "turn of the corner" on in SW FL? Folks from other areas coming in and buying up foreclosed properties at record pace does not a recovery make. Particularly when there are still plenty more foreclosures in the pipeline.

On the contrary, it only shows how far the area has fallen, and continues to fall, as outsiders to the local economy, flock to pick the bones of a failed local economy.

An interesting article this is. Stop to think what the unemployment rate might be here, had all those that packed up and left, hadnt gone anywhere?

There are still plenty of roving mobile mechanics in the area. Not to mention mobile "whatever you need" and "handyman" services. Wonder why? Think overhead in this environment. Everyone is fighting everyone else for the scraps. And come summer, scraps are all there ever was. I wish everyone the best of luck, but coming to SW Florida and opening a "conventional" business, with bricks and mortar location is a very dicey proposition.

Bottom line......Those monthly rent and utility bills keep coming even when the business, and income doesnt.

Once upon a time, I sold real estate. Believe it or not, one of the things I learned was that a positive mental attitude is of utmost importance in the art of sales.(the brokers WILL NOT let you forget that, they even hire "motivational speakers" to give rah rah sessions to the troops) I also learned that failing to "curb my enthusiasm" in tune to the proper context (sales vs. personal decisions) could lead to some less than desireable consequenses from time to time.

Yachtcare has spoken.......